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6th December 2015

NewslinkTrends: Weekly Global Insurance Analysis

This week, the insurance industry played an active part in the COP21 Climate Conference in Paris-XL Group ceo Mike McGavick, Stephen Catlin, and ICMIF ceo Shaun Tarbuck were amongst the participants. Eight Lloyd's syndicates are to join together to assist emerging economies to tackle underinsurance, and African Risk Capacity(ARC) is to double its coverage.
Lloyd's issued a new report examining liability exposure management and quantifying risk accumulation, whilst Timetric said that the outlook for the UK life market was positive.
The Financial Conduct Authority(FCA) published proposals for general insurers to include the previous year's premium on renewal notices.
Xuber announced three major contracts-with Aon, Cigna, and NYSIR, and published an interesting and timely white paper headed Risk and Regulation in the Insurance Marketplace based around a panel session and survey at the recent Xchanging London Market Conference. Aon Benfield collaborated with SCOR over the development of a French flood scenario model. The Insurer Cloud went live with a range of product quotes for Hawkwell Motor, and LexisNexis Intelligence Exchange was launched to help Indian life companies fight fraud.
Both AXA and Sun Life Financial announced they are to increase investment in their Indian joint ventures to the new limit for foreign insurers, following on from Nippon Life and Bupa the previous week. Zurich's ceo Martin Senn is to step down, and the insurer is to stop taking new general insurance business in the Middle East, and ceased taking life new business in Singapore. XL Group entered a definitive life reinsurance agreement with RGA, AXIS Capital received authority to write business through the Lloyd's Asia platform with an emphasis on treaty reinsurance, Markel International got the PRA nod for its Solvency II Capital Requirement calculation, and Gallagher acquired in New Zealand.
There were senior appointments at AGCS, Ascot Bermuda, Marsh in Guernsey, J.P.Morgan Asset Management Global Insurance Solutions, Pioneer Underwriters, and insurance software specialist Websure. Three new Board members were elected at EIOPA.
Articles on the above topics are included in those added to the Insurance Newslink and Financial Newslink global database service on Wednesday and today at www.onlystrategic.com